Thinking about opening a travel medicine practice? We tell you what you need to know to get started.
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Creating a Business Plan for a Travel Medicine Practice
A common mistake for an entrepreneur is to not create a business plan.
A good business plan establishes both a framework and a roadmap for your business. If you don't have a business plan, your leadership will be handicapped, choosing short-term opportunities at the expense of long-term benefits.
Start by defining your business mission. The process of writing a mission statement doesn't have to be complicated. Once you're satisfied with your travel medicine practice's mission, it's time to initiate the hard work involved with writing the rest of your travel medicine practice's business plan.
Before you open a travel medicine practice within your community, it's essential to see how you will fit in the competitive landscape. Try our link below to find competitors nearby. After following the link, enter your city, state and zip code to get a list of travel medicine practices in your area.
Is the established competition doing a good job? It's important to understand their strengths and weaknesses and think through how you'll stake up against those established businesses.
Learn from Others Who Are Already In This Space
Once you've finished assessing the competion, it's a wise move to have a conversation with someone who is in the business. If you think your local competitors will give you advice, you're being overoptimistic. It'd be crazy for them to teach you the business.
Thankfully, an owner of a a travel medicine practice on the other side of the country may be willing to share their entrepreneurial wisdom with you, after they realize you reside far away from them and won't be stealing their local customers. Indeed, many experienced entrepreneurs enjoy offering advice to startup entrepreneurs. If you are persistent, you can find a business mentor who is willing to help you out.
Where can you find a travel medicine practice owner that lives outside of your area?
Here's how we would do it. Try the useful link below and key in a random city/state or zipcode.
Benefits of Buying a Travel Medicine Practice
On a percentage basis, more entrepreneurs intend to enter travel medicine practice ownership through a startup than through a business purchase. Yet travel medicine practice startups aren't easy - many fail within the first year.
There are a lot of factors that need to be considered in buying vs. starting a business. While other startups are just getting on their feet, a business purchase dramatically improves the odds that your travel medicine practice will be realizing net income from the outset of your ownership engagement.
Franchising May Be a Better Way to Go
Your odds of becoming a successful entrepreneur increase when you join the ranks of franchisees and benefit from the prior work of others and their lessons learned.
As part of your process in starting a travel medicine practice, you may want to determine whether buying a franchise could make your life much easier.
The link below gives you access to our franchise directory so you can see if there's a franchise opportunity for you. You might even find something that points you in a completely different direction.
These additional resources regarding starting a business may be of interest to you.
If you already are in business and came here to learn about growing an existing travel medicine practice, these resources will come in handy:
If you sell to travel medicine practices, you're in the wrong place. Try these resources instead:
If you are still exploring all of your options, please browse our directory of guides below.